If you are a business owner planning to invest in assets to grow your business we can assist you with a Chattel Mortgage. There are numerous products available with varying terms and conditions so call us today and we’ll find a fantastic solution for your business. The general conditions you could expect are:

  • Borrower owns the asset from the start of the agreement; the lender secures the loan by registering a charge over the asset
  • Loan term of 12 to 60 Months (1-5 years)
  • Age of asset:
    • Motor vehicles: age plus the contract term should not exceed 12 years
    • Equipment: Age limit depends on the asset being funded
  • Deposit – optional
  • Repayment options may be monthly, quarterly, semi-annual, annual, seasonal or a structured one off payment
  • Repayments can be made in advance or arrears
  • Interest and depreciation may be deductible for the borrower for income tax purposes
  • GST should be payable on the initial asset purchase and can be included in the amount financed
  • Ownership of the asset should be with the borrower at settlement
  • If the borrower is registered for GST they may be entitled to claim input tax credits upfront

 

As a guide the assets you can purchase with this finance can include the following. Note that some assets attract certain conditions for example mining equipment excludes underground mining equipment. Call us today and we can quickly tell you if what you need is eligible.

 

  • Cars/light commercial vehicles
  • Caravans
  • Motorcycles
  • Small and medium trucks
  • Trailers
  • Prime movers (including cement mixers, tippers and local transport work)
  • Buses under government contract (and other)
  • Earthmoving equipment (excavators, bull dozers, graders, skid steer loaders etc)
  • Material handling equipment (including forklifts and container lifts)
  • Access equipment (including boom lifts and scissor lifts)
  • Mulchers, wood chippers and stump grinders
  • Mowers, tractors and attachments (including serial numbered items trailed behind)
  • Agricultural equipment (headers and harvesters)
  • Forestry equipment
  • Generators/welders/pumps
  • Printing equipment
  • Medical and dental equipment
  • Engineering equipment
  • Mobile cranes
  • Crushing and screening equipment
  • Workshop equipment
  • Mining equipment
  • Other agricultural equipment
  • Food processing/manufacturing equipment
  • Woodwork equipment (panel saws, edge banders, routers and lathes)
  • Dynamometers
  • Information technology and data storage
  • Building management systems
  • Fit-outs
  • Manufacturing lines
  • Sheds and silos
  • Plastic moulding equipment
  • Concrete batching plants
  • Caravan park cabins
  • Coolrooms
  • Spray booths
  • GPS equipment
  • Commercial air conditioning and ventilation systems
  • Audio visual equipment